McKesson (NYSE:MCK) Price Target Raised to $927.00

McKesson (NYSE:MCK) had its price target hoisted by Robert W. Baird from $873.00 to $927.00 in a report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently commented on MCK. TD Cowen raised their target price on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners increased their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Jefferies Financial Group lifted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Morgan Stanley upped their target price on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI raised their target price on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $880.15.

McKesson Trading Down 0.9%

Shares of McKesson stock opened at $850.77 on Thursday. The company’s fifty day simple moving average is $757.54 and its two-hundred day simple moving average is $724.25. McKesson has a 12-month low of $558.13 and a 12-month high of $867.63. The company has a market cap of $105.82 billion, a P/E ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $7.07 EPS. Analysts predict that McKesson will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several large investors have recently made changes to their positions in MCK. Norges Bank purchased a new stake in McKesson during the 2nd quarter worth approximately $1,346,661,000. Alliancebernstein L.P. increased its holdings in McKesson by 150.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after purchasing an additional 1,362,386 shares during the period. Nuveen LLC purchased a new stake in McKesson during the 1st quarter worth about $475,235,000. Arrowstreet Capital Limited Partnership grew its position in shares of McKesson by 56.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after buying an additional 446,060 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of McKesson by 4,559.6% during the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.